General – Landlordologyhttps://www.landlordology.com
Resources for Landlords. Learn how to successfully manage your rental properties, build wealth, and keep your tenants happy.Wed, 20 Mar 2019 21:00:02 +0000en-UShourly1https://wordpress.org/?v=4.9.840388473Year in review: the best of 2018https://www.landlordology.com/year-review-best-2018/
https://www.landlordology.com/year-review-best-2018/#respondWed, 02 Jan 2019 15:00:20 +0000https://www.landlordology.com/?p=31316Welcome to the new year! As we dive into 2019, we’d like to take a moment and reflect the highlights of the past year. Whether you’re a landlord or a renter, we’re glad you’re here. Please enjoy the best articles of 2018.

Best articles of 2018:

Some landlords believe that even one pet is one pet too many in their rental property. But if you allow pets, you should have a plan on how many to allow. It’s a good idea to have a pet policy in your lease that you go over with your tenants before they move in.

Did you know there’s an alternative to an LLC that protects your finances? It’s umbrella insurance. Landlords can protect themselves from lawsuits with a simple umbrella insurance policy and avoid the problems involved with an LLC.

If you do your job properly when it comes to taking care of the tenants, they’ll ultimately take care of you by wanting to stay. After all, every renter wants and deserves a good landlord and a well-kept property.

If you leave your rental in bad shape when you move out, your landlord can hold the cleaning costs from your security deposit. After all, it’s your mess. But the security deposit is your money. You want as much of it back as possible, right? So what are your responsibilities?

Experienced landlords, particularly those who’ve been burned by less-than-exemplary renters, always screen future tenants. And that costs money. Thus, the application fee, which pays for background checks and credit reports for each person on a lease.

A landlord is required to provide a safe and habitable residence, but landlords and tenants share responsibility for keeping it that way. Tenants should maintain sanitary conditions and contact the landlord whenever repairs are needed.

When your tenant plans to move, you should make the move-out process as smooth as possible. This benefits you and your tenant—when your tenant knows what to expect, they’re more likely to meet your expectations. Here are some templates you can use when your tenants’ leases are about to end.

If you don’t mind being on call 24/7 to deal with every Mr. and Ms. Forgetful you rent to, don’t worry about it. But if you appreciate peace of mind and wish your tenants would learn to be more responsible, there’s a few things you can do about those lost-key situations.

It’s best not to push the limits on your monthly rent calendar if you want to avoid landlord-tenant friction, or worse yet, eviction. Although many mortgage companies offer a payment grace period beyond the listed due date, the same is usually not true for rental payments.

At Cozy, the company behind Landlordology, we build tools to make life easier for our customers and we listen to their feedback. Landlords have been asking us to make it easy to store and share essential rental documents with their tenants, so they can be better organized and more transparent. Now they can.

Quick and convenient

It’s easy to add and share rental documents in Cozy. When you set up payments, you can upload any related documents, which will be there for your tenants when they login to Cozy.

Every time you share a new document, all the tenants on that lease will be notified by email. Then they can access the shared documents from any device. Tenants will conveniently have the lease at their fingertips, so they won’t have to ask you for it again and again.

State law requirements

Every state has its own landlord-tenant laws. Some states have laws to ensure that tenants always receive a copy of the lease. For example, California Civ. Code §§ 1962(4) says that a landlord must provide a copy of the lease to the tenant within 15 days of its execution. In Delaware, a landlord must provide a written copy of the agreement, free of charge (§ 5105 (b)).

Cozy makes it easy to share a lease with your tenants securely and for free.

Your tenants will thank you

Most tenants want to be self-sufficient. They don’t want to ask you multiple times for a copy of the lease, or find a place to store a stack of important rental documents.

By using Cozy to send and store these documents, you’ll help foster trust and transparency with your tenants. It’s a great way to start a relationship with a new tenant, that hopefully will help pave the way for a long-term resident who treats you and your property with honesty and respect.

Foundation for success

At Cozy, we make renting easier for everyone. Hundreds of thousands of landlords have built their rental business with Cozy, and now they have another tool to make their lives easier. Document sharing in Cozy is one more way you can create a better, more efficient, and more profitable rental business.

If you’re not already using Cozy, give it a try. All our core features are free for landlords, including collecting applications, screening tenants, and collecting rent online.

]]>https://www.landlordology.com/new-share-rental-documents-cozy/feed/129157How to get the rental you wanthttps://www.landlordology.com/get-rental-want/
https://www.landlordology.com/get-rental-want/#commentsTue, 03 Apr 2018 13:05:12 +0000https://www.landlordology.com/?p=27814Learn how to impress any landlord or property manager to get the perfect rental, just by following some simple tips.

If getting into a good rental in your area is as competitive as getting accepted to an Ivy League school, learn some tips to get ahead of the pack. When you’re prepared, knowledgeable, and professional during the application process, you’ll stand out from the rest.

Here are five tips and tricks that will make you—and your application—grab the attention of any landlord or property manager.

1. Have all your info ready

Many rental companies and landlords accept applications online, but sometimes you’ll be asked to fill out a paper application at the time of the showing. Make sure to bring all the information listed above so you can fill out the application as thoroughly as possible. If there is a link to an online application in the rental advertisement, filling it out before the showing can be a great way to “cut in line.”

Rental application fees are typically non-refundable, so be sure this is really the rental for you, or be prepared to forfeit the application fee. If a property manager is still using paper applications, be sure to ask how they plan to secure your sensitive information to mitigate the risks of identity theft.

In most cases, you’ll need only a handful of items to apply for a rental property. These include, but aren’t limited, to:

Employment history

Not only will you need contact information and payment history for your current position(s), but likely for the past two years, as well.

Pay stubs or other proof of income

Most landlords require you to prove your income. Be sure to check the income requirements for the particular property. Some require you to earn at least two times (and sometimes three times) the monthly rental amount.

Rental history

Gather all your past addresses and previous landlords’ contact information (phone number and email). Your potential landlord needs to check your rental references to ensure you’ve paid your rent on time and haven’t had any disputes with past landlords.

Credit score

It’s valuable to know what shows up on your credit report before you apply to any rental property. If there are any inaccuracies, you’ll have time to dispute the issue with the credit bureau. And, if you see any potential red flags, you can tell your potential landlord right away so there aren’t any surprises when they check your credit report. You can check your own credit report for free at annualcreditreport.com, the only source for federally authorized free credit reports.

Check your credit score and credit history before beginning the application process. While an application won’t ask you directly for your credit score, you can be sure that at some point during the application process, the landlord will check your credit score. There are a handful of credit resources online (including annualcreditreport.com) that allow a free credit check every 12 months. Be aware of the credit requirements for the rental property; it may not be worth having your credit pulled if you know you don’t meet the requirements. A soft credit inquiry won’t negatively affect your credit score.

Rental references

Most potential landlords will want to interview your former or current landlords. They’ll want to know if you paid rent on time and kept your place clean. Be sure to leave on good terms, and ask your former landlords if they’d be willing to give a positive reference.

Personal references

Most applications require you to list at least two personal references. These people can be previous bosses, friends, roommates, or people you trust who’ve known you for a long time.

2. Keep your word

Don’t be that applicant who makes an appointment but never shows up or who fails to email or call back when they say they will. If you’re serious about seeing the property, show up. And be on time.

So, you made it to the showing appointment, love the apartment, must have it, and promise to fill out the online application as soon as you get home. It’s in your best interest to actually fill out the application as soon as you get home (or somewhere where you can fully fill out the app).

If the landlord is using Cozy, you can fill out an application from your phone before you even leave the property. If the landlord is still using paper applications, you can still share your Cozy renter profile, which gives them more info and helps set you apart.

Most competitive rental situations generally operate on a first-come-first-serve basis for qualified applicants. If the next qualified person to view the unit gets their application in first, and they’re approved, you’ll probably lose the apartment.

3. Treat a rental property viewing like a job interview

First impressions count, even when applying for a property. Just a little preparation will make a big difference.

Make a good first impression

Dress professionally (or at least like you didn’t just roll out of bed), be on time, and be courteous. Don’t show up wearing pajama pants or with alcohol on your breath to view rentals. Landlords notice these things.

Know your stuff

Be as knowledgeable about the rental property as you can. A good rental advertisement includes details like the rental amount, security deposit, lease duration, which utilities are included, and the screening criteria. The more you know, the more it shows that you’ve done your legwork and are serious about getting the place.

Ask good questions

These include things that you’d have no way of knowing from the rental ad, like how the landlord prefers to handle maintenance issues or for details about the “vibe” of the building.

Let them know why you’re moving

This is a touchy subject because not everyone has a positive reason for a move—and by no means do landlords expect you to divulge extremely personal information—but what landlords really want to understand is your motivation. Show a landlord you’re ready to move, and prove why you’d be a great tenant. Do you have a history of staying long term at past rentals? Do you play well with others? Are you easygoing and responsible?

4. Don’t try to hide your past

Life happens. Every landlord and property manager is a human who has the capacity to understand that we all make mistakes. Sometimes it just takes an explanation and their understanding for you to get a second chance.

Disclosure is key. If you have a DUI on your record, less than stellar credit, or even a negative rental history, fess up. It’s better for the landlord to receive an explanation from you upfront than to uncover your background while researching your application. Landlords might then assume you were trying to hide information, which is not a good way to begin a landlord/tenant relationship.

Some landlords forgive credit blemishes if you are willing to pay an additional security deposit. Timing matters, too. Is your poor credit score because of problems five years ago or five months ago? Most landlords weigh student loan and/or medical debt differently than a year of missed credit card payments.

Some landlords may let you have a cosigner who is typically a relative (but can be someone else as well). This person should be willing to vouch for you and take on rental payment responsibility.

It can be tough to find a rental if you have poor credit or an eviction on your record, but it’s not impossible. Do your best to be upfront about any issues a landlord may find during the application process, and ask if they’d be willing to work with you. This will save everyone time, and more often than not, you’ll be rewarded for your honesty.

5. Be yourself

It may be a cliche, but the more you let your wonderful self shine while viewing the rental, the more you’ll get an idea of whether the property is right for you. A happy tenant makes a happy landlord, and there’s nothing better than a happy landlord.

]]>https://www.landlordology.com/get-rental-want/feed/2278148 home repair tasks every landlord should learn how to dohttps://www.landlordology.com/home-repair-tasks-landlord/
https://www.landlordology.com/home-repair-tasks-landlord/#respondWed, 07 Feb 2018 21:31:11 +0000https://www.landlordology.com/?p=28002A lot can go wrong with a rental unit, but a landlord with the skills, knowledge, and tools to handle basic repair tasks can save lots of money.

If you aren’t interested in doing maintenance and repair work yourself, because you prefer a hands-off approach, that’s great. But you’ll need an extensive contact list of home repair pros. If you want to do this work yourself, you’ve reduced your dependency on third-party schedules and can potentially save significant amounts of money.

Note: Even if you’re in a position to do repairs yourself, you shouldn’t expect to handle all of them. Certain repair tasks, such as those related to heating and cooling systems, require professional certification, while others, such as changing a shower valve, call for specialized skills. That still leaves a fairly long list of basic repair tasks you can do yourself. Here are eight of the most common ones.

1. Basic plumbing

Faucet leaks waste water and stain sinks and tubs, and they’re usually easy to fix. In most cases, it’s simply a matter of disassembling the faucet and replacing a worn gasket or washer. For this simple job, expect to pay a plumber at least $125 for a service call. You can usually find instructions for completing the job on the manufacturer’s website. After you’ve done this task once or twice, you’ll be an expert.

Toilet and drain clogs have a way of happening at inconvenient times when plumbers aren’t available. To avoid leaving your tenants in the lurch, learn how to snake a drain, disassemble a P-trap, and properly plunge a toilet. And yes, there is a proper way to do it.

Useful tools:

Slip-lock pliers

Multidriver

Sink auger and toilet auger (they’re not the same)

Bell-shaped toilet plunger

Potential savings: $125 or more per leak or toilet clog

Know how to shut off the water

Plumbing leaks can cause major headaches. While you may not be able to fix every one by yourself, you should know the locations of the water shut-offs so you can turn off the water to prevent further damage until a plumber comes.

2. Electrical switch and outlet repair

Dimming or flickering lights and short circuits are systemic problems that require professional attention, but when a switch or outlet doesn’t work properly, you can often restore power to that device by tightening a loose connection or replacing the device. This is a 10- to 20-minute job. Just make sure to turn off the breaker controlling the circuit before you remove the outlet or switch cover.

3. Appliance troubleshooting

Problems with refrigerators, washing machines, dryers, and other major appliances often boil down to a simple cause, such as a blown fuse, broken drive belt, or internal obstruction. While there’s no formula that works for every situation, many appliance repairs are easier than you expect. You’ll save the cost of the repair as well as that of the service call.

If you don’t have the user’s manual, chances are good that you’ll find a YouTube video to guide you through the process. The most difficult part of appliance repair is often moving the machine into a position that allows access to the damaged component. You may need help for this.

4. HVAC maintenance

When a heating or cooling system breaks down, you usually have no alternative but to call a licensed repair pro. However, you can perform a number of maintenance tasks yourself to help prevent breakdowns and avoid expensive furnace repair bills. They include changing filters regularly, cleaning refrigeration coils, and lubricating fan motors. If you have a gas furnace, you should familiarize yourself with the procedure for changing a faulty thermocouple or heat sensor, which is often responsible for the failure of the pilot to stay lit.

5. Pest control

Insects and rodents thrive in unsanitary conditions, and while tenants must share responsibility for keeping them at bay, it’s ultimately the landlord’s responsibility to eradicate them. Pest control is something of an art that takes research and the right materials. You might not be able to get rid of an ant infestation, for example, until you find out what kind of ants they are so you can use the right bait. It may take homework and persistence, but developing a knack for pest control can save you the hundreds of dollars you’ll have to spend for professional extermination and the monthly fees for upkeep.

Note: If you discover termites at your rental property, don’t try to exterminate them yourself. Termite control is a multi-step procedure that is best left to pros. You can handle bedbugs yourself, though.

Potential savings: $500 or more for extermination and $150 or more per month for upkeep

6. Basic roof and gutter repair

Although a major roof leak is a job for a roofer, a handy landlord who isn’t afraid of heights can often fix minor leaks with roofing tar and caulk and save significantly. The cost average cost to repair a leak on a shingle roof is between $500 and $700, and on slate roofs, it can run into the thousands.

The intrepid climber can also stop gutter leaks, which can damage siding, undermine foundations, and create dangerous icicles in the winter. Gutter repairs often involve little more than cleaning out debris, adjusting the hangers, and sealing joints with caulk. Preventing leaks by cleaning the gutters at least once a year should be one of the repair tasks you complete as part of routine maintenance.

Useful tools:

Ladder

Putty knife

Caulking gun

Bucket

Gloves

Potential savings: $500 to $1,000 or more per leak

7. Drywall patching and replacement

It’s often possible to repair impact damage in drywall with patching compound or joint compound, but replacement is the only option for water damage or mold. Either way, you’ll save $300 or more per repair being able to do this work yourself. Drywall repair can be messy, but it’s straightforward, and it should be part of your repertoire. You’ll be glad you know how to do it when you have to get a property ready for new renters after a long tenancy.

Useful tools:

Tape measure

Straightedge

Utility knife

Drywall saw

A selection of drywall blades

Potential savings: $300 or more per repair

8. Painting

Each rental property you own gives you an opportunity to hone your painting skills, and a high-turnover property will give you lots of opportunities. Painting isn’t rocket science, but it isn’t trivial work either, and it takes time to develop an efficient routine. The sooner you do, the sooner you’ll save the $300 or $400 per room that professional painters charge. For a three-bedroom apartment in an average rental market, that could be more than a month’s rent.

To DIY or not to DIY? That is the question!

Even if you’ve developed an extensive repertoire of home repair skills, it may not be worth your while to take on certain repair tasks. Before undertaking a repair, consider what your time is worth and how that compares to the going rate for the job. You may choose to hire a pro if one is available and it’s more cost-effective to do so.

]]>https://www.landlordology.com/home-repair-tasks-landlord/feed/028002Year in review: the best of 2017https://www.landlordology.com/year-review-best-2017/
https://www.landlordology.com/year-review-best-2017/#commentsThu, 04 Jan 2018 21:07:02 +0000https://www.landlordology.com/?p=28088Welcome to the new year! We’re excited to welcome you back to another promising year. As always, we vow to bring you even more great resources and information, whether you’re a landlord or a renter.

2017 summary:

4+ million unique visitors, up 50% from 2016

16,600 average daily page views, up 49%

8,171 comments, up 37%

~10,000 webinar attendees!

15,896 landlord guides downloaded, up 130%

That’s right, last year, more than 4 million people visited Landlordology and trusted us as a premier source for educational tools, guides, and state laws about renting. We couldn’t do it without you!

Best articles of 2017:

Learn some tips on best practices for installing an alarm system and about the basic alarm system types. It’s a perk that your tenants want, and you could get more rent for a property with an alarm system.

A single-bedroom apartment that rents for $1,850 in touristy Santa Cruz, California, can fetch $150 to $200 or more per night during the summer as an Airbnb listing. Listing a long-term rental on Airbnb can increase its profit potential, but it’s important to consider all the pros and cons.

Lack of funds is the number one reason for eviction, and you can avoid that by verifying income before they move in. This is a complete list of ways a renter can verify their proof of income. We also cover a basic rental affordability calculation to make sure a renter can afford the property.

If the lease has a fixed-term, it applies to landlords and tenants. The tenant can’t break the lease early without being responsible for paying rent, unless and until you rent to someone else, and you can’t break the lease.

Landlords can charge tenants for repairs only when tenants are liable for the repairs. If the landlord does the work, he or she should charge a competitive rate and provide a detailed statement when work is complete.

Nobody enters a landlord/tenant relationship with a lawsuit in mind. However, tenants and landlords sue each other all of the time, and usually for the same short list of reasons. Learn why tenants file lawsuits and how to avoid being sued.

]]>https://www.landlordology.com/year-review-best-2017/feed/228088Year in Review: The Best of 2016https://www.landlordology.com/year-in-review-best-of-2016/
https://www.landlordology.com/year-in-review-best-of-2016/#commentsTue, 03 Jan 2017 20:56:53 +0000https://www.landlordology.com/?p=24465Four years ago, Landlordology consisted of a handful of articles that attracted 534 unique visitors during 2012. Nonetheless, we had a passion to improve the rental industry by teaching landlords and tenants how to be successful.

Now, Landlordology has become a premier educational resource that reaches more than 2.6 million people annually!

With industry best practices in mind, Landlordology provides the practical instruction, while Cozy offers the rent collection and tenant screening tools needed to be successful. And best of all, they’re both free (it’s true!).

Cozy is about a million times better than PayPal. You have no idea how much stress you’ve taken off of my shoulders.

Our best articles in 2016:

I have been a landlord for 15+ years, and have learned so much from just browsing your website in the last two to three months.

–Nanette, Landlord in Colorado

We published 109 articles in 2016 – here are our 15 favorites. We picked these articles because they represent our ethos about education and do a great job of providing essential information for landlords.

How can we improve?

We’re making big plans for 2017, and we want your input. Please let us know how we can help you even more this year, and we’ll do our best! I truly believe we’ll all succeed if we stick together.

Thanks again for your presence in this community. Here’s to you and a promising new year!

Please complete this survey:

Thanks for your input! Message received!

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]]>https://www.landlordology.com/year-in-review-best-of-2016/feed/3244657 Notable Real Estate Blogs and Why I Read Themhttps://www.landlordology.com/7-favorite-real-estate-blogs/
https://www.landlordology.com/7-favorite-real-estate-blogs/#commentsThu, 27 Oct 2016 13:33:08 +0000https://www.landlordology.com/?p=21179I’m online every day searching for properties and learning how to be a more profitable landlord. Here are my seven favorite real estate websites that I go to every day.

Before we get started, I should say that I also really love Landlordology (this blog!). Over the years, I’ve learned so much from Landlordology that I asked to contribute and give back on a regular basis. It’s my favorite, and I’ve written a lot of articles that have been featured here.

But since I thought it would be a little weird and self-serving to mention it in the list, here are my other favorites blogs:

BiggerPockets is a large social network for real estate investors. It’s also a marketplace, forum, podcast, and information hub.

Where Landlordology teaches mainly about buy and hold investments, BiggerPockets explores many of the other areas of investing, such as flipping, notes, commercial investing, lending, wholesale, and a dozen other topics.

Afford Anything, by Paula Pant, has a huge blog following. The site is well designed, educational, honest, and has no hidden agendas.

Pant posts income reports that show all of her real estate revenue and expenses. The most impressive part is that she truly is a four-hour workweek person (even less actually) and manages her property remotely.

I’m a huge data nerd and love the in-depth research John Burns puts on his site, Real Estate Consulting.

John Burns, a real estate consultant, was a vocal activist in calling the last bubble. This is extremely important, as most of his high-end consulting customers are institutional real estate investors.

John has two (of many) sections on his site which provide incredible value:

Between lenders, tenants, subcontractors, agents, and title companies, real estate investing can be stressful. This new site, Lighter Side of Real Estate, is highly entertaining. The site also does a great job with high-quality photographs and visuals.

My wife and I love Houzz because of how nice and picturesque everything is. However, everything on this site is over our budget.

I also use the forum on Houzz. There, you can post pictures and get feedback. This is extremely valuable to me because I am too cheap to hire an interior designer or landscape architect. The Houzz mobile app is extremely easy to use as well.

This collaboration is part of a program we launched earlier this year to encourage landlords and property managers to join and participate in their local housing associations. We’re excited to partner with RHA and to be able to bring modern property management software to their members. We look forward to the years ahead.

Without further ado, Jim Lofgren, Executive Director of RHA, will tell you more about why RHA joined forces with Cozy.

What does the RHA of Sacramento Valley do, and who do you serve?

Jim Lofgren, Executive Director of RHA

Jim: The Rental Housing Association is a non-profit membership organization created by rental owners to help and protect rental owners. Renting homes or apartments, either as a private investor or a professional property manager, is complicated nowadays. That’s where RHA comes in.

We support our members with a wide range of services, such as rental forms, tenant screening, property management advice, education, networking events, and advocacy with the local government. We’ve been around since 1951, and our membership includes more than 1,000 individual rental owners and property management companies, managing more than 85,000 rental units throughout the 8-county Sacramento Valley region.

How did you become the executive director of RHA?

“I help provide a basic human need for thousands of families”

Jim: I’ve spent my career managing non-profit associations in higher education, homebuilding, general contracting, and now, rental housing. I was attracted to the rental housing industry because, in a way, I help provide a basic human need for thousands of families, and I like that.

What are the greatest challenges of the job? The greatest rewards?

Jim: The greatest challenge is trying to deliver high-quality services at a reasonable cost for our members. I am a perfectionist, and it’s hard to settle for anything less. But the greatest reward is when our members tell us we’re the best at what we do.

What’s changed during the 19 years you’ve been overseeing the association?

Jim: Technology has changed how everyone manages rental housing, as well as how associations are managed. I remember when tenant screening reports were ordered by phone, rental applications and leases were faxed, vacancies were advertised in newspapers, and property inspections were recorded on paper. Now most of our members perform these tasks on the internet or an app on their smart phone.

Some landlords and property managers have embraced technology and others have decided to keep managing their properties the way they always have. It’s their choice, but the world is changing, and fortunately or unfortunately, using the latest technology is necessary if managers what to be more efficient and competitive.

What technologies do your members still need and how does the RHA help them discover/adopt those technologies?

Jim: While new technologies keep popping up all the time, our members have trouble keeping up with all the new products and services, as well as learning how to use them. RHA helps by introducing our members to new technology, then offering training to help them get started.

How did you first learn about Cozy?

Jim: One day I happened to find Landlordology.com, and I was very impressed with the info on the site, especially the links to websites providing services to help rental owners manage their properties with greater efficiency. Cozy was at the top of the list.

What first gave you the idea to partner with Cozy?

“… when Cozy offered to partner with RHA, it was easy to say ‘yes’.”

Jim: I’m always looking for ways to help our members manage their properties, and Cozy packages several important core services. Also, it’s easy to use. So when Cozy offered to partner with RHA, it was easy to say “yes.”

How will RHA members benefit most from this partnership?

Jim: I think a synergy will develop between Cozy and RHA. Lucas Hall, Head of Industry Relations at Cozy and Founder of Landlordology, is creative and knowledgeable when it comes to property management. Lucas, and the rest of Team Cozy, will advertise the benefits of our association, as well as provide educational support to our members. Cozy has a huge platform that reaches millions of landlords and property managers a year. Partnering with Cozy is like adding multiple talented, tech-savvy employees to our staff, without the overhead. We’re excited to have Cozy help our members learn how to use new technologies.

What else will the association gain from working with Cozy?

“Cozy will help us spread the news, and that should boost our membership.”

Jim: Cozy will help publicize RHA. Sometimes we’re so busy helping our existing members that we can’t pursue new rental owners and managers. Cozy will help us spread the news about RHA to our target audience, and that should boost our membership.

What makes you most excited about this partnership?

“Our partnership with Cozy enables us to offer the best services to our members.”

Jim: RHA strives to offer the best services for our members. Our partnership with Cozy enables us to do that. I am excited to introduce our members to everything Cozy has to offer.

If you’re interested in learning more about our partnership program, send us an email at hello@cozy.co.

Earlier this year, we launched an innovative partnership program to encourage landlords and property managers to join and participate in their local rental housing associations. Nationwide, these state and local associations provide strength, guidance, and a unified voice for the industry. They operate under the belief that we are better if we stick together – a core belief that we share at Cozy and Landlordology.

With NVAA as our newest partner, we’re excited to promote its amazing services, and bring Cozy’s online rent collection, screening tools, and educational resources (Landlordology) to its members. Cozy is proud to support NVAA and its efforts to improve legislation, provide mentoring programs, and offer premier educational tools to and for its members.

The Northern Virginia Apartment Association serves individuals and companies which collectively own or manage approximately 40,000 rental properties in the greater DC Metro region. Like most landlords and property managers around the country, NVAA’s members still regularly deal with late rent, paper checks, and tenants who slip through the screening process. By providing NVAA members with modern property management tools, Cozy will help them avoid these pitfalls, save money, and keep their residents happy.

This partnership with NVAA is one of many we’re building nationwide in an effort to bring peace of mind to property managers, landlords, and renters everywhere. Please join us in celebrating this partnership and the value that NVAA brings to the industry.

]]>https://www.landlordology.com/cozy-partners-with-the-northern-virginia-apartment-association/feed/122337Cozy Partners with the Apartment Association of New Mexicohttps://www.landlordology.com/cozy-partners-apartment-association-new-mexico/
https://www.landlordology.com/cozy-partners-apartment-association-new-mexico/#respondThu, 31 Mar 2016 12:00:36 +0000https://www.landlordology.com/?p=21075
Earlier this year, we announced our partnership with the National Association of Realtors and Move, a tremendous show of industry trust.

As our first rental housing association partner, the AANM represents an important moment for us. It’s the first of many similar partnership we’re building nationwide.

The AANM serves about 725 individuals and companies, which own or manage more than 53,000 rental properties in New Mexico. Like most landlords around the country, the property managers of New Mexico still regularly deal with late rent, paper checks, and tenants who slip through the screening process. Cozy will help them avoid these pitfalls, by providing them with the tools they need to be successful.

During the next few months, we’ll be hosting a series of educational workshops exclusively for AANM members to help them learn practices that will lead to happier tenants and greater profits.

And if you’re part of an apartment association, we’d love to talk to you about partnering with Cozy.

]]>https://www.landlordology.com/cozy-partners-apartment-association-new-mexico/feed/021075Should I Invest in Local or Long-Distance Rental Properties?https://www.landlordology.com/local-vs-long-distance-properties/
https://www.landlordology.com/local-vs-long-distance-properties/#commentsWed, 30 Dec 2015 13:23:32 +0000https://www.landlordology.com/?p=19839While most investors start out investing locally, many grow their portfolio by investing in long-distance real estate.

Why? For those who live in an high-priced area or an area with little growth potential, investing in a different city might be a great option.

Investing From a Distance

The primary downside of investing from a distance is the necessity of needing someone “on the ground”. Most long-distance investors choose to hire a property manager.

While it’s technically possible to be a long-distance landlord, it’s just not feasible, since many landlord responsibilities require at least occasional on-premise responsibility. Plus, it would be time-consuming enough to be considered a real job.

Even if you’re thinking, “Great – I’ll just hire a property management company,” there are several things to be aware of. Due to the low margin of profit that property managers make, it’s hard to expect the utmost attention or best service from someone you hire.

There are diligent property managers out there, but they usually cost more, as opposed to property managers that try to manage every property possible and value quality over quantity as a result. That’s a no-no.

1. Consider Common Problems with Managers

First, look for individuals instead of hierarchy-ridden management companies. Real estate requires prompt communication, whether it involves tenants’ needs or potential sales/purchases. Historically, communication among property management companies tends to be very poor, since they are often managing more properties than they can handle.

There’s nothing worse than investing in a property and not being able to get in touch with the property manager during a crisis. Seek out individual property managers that aren’t simply the lowest bid to prevent this.

2. Check Online Reviews

In terms of finding that perfect property manager individual, ask around – whether it’s in real estate forums or a local real estate agent you trust. Yelp and Google also offer convenient reviews of every respectable service imaginable. If someone is a poor property manager, chances are an investor or tenant has already complained somewhere online.

If you end up hiring a property manager who doesn’t pan out, don’t hesitate to fire them if the service isn’t up to par. It is your money, after all, and you shouldn’t feel bad for letting someone go who is not meeting their potential, especially when there are viable alternatives waiting to be discovered.

3. Use Modern Technology

If you intend to invest from a distance, make sure you’re fully prepared to trust other professionals and are comfortable with various forms of communication. In addition to the basics such as phone and email communication, newer tools like Skype and FaceTime can make a world of difference. The property manager you end up hiring will likely be the one who inspects the property and fulfills all requests, so it’s important to trust them.

When investing from a distance, it is possible (though difficult) to manage everything over the phone – from hiring/firing property managers to calling up services to make repairs. Real estate investors typically don’t double as repair persons or plumbers, but they can certainly use the phone to help find someone who can.

Tools like Cozy can help you do most everything that a traditional property manager would do. But even so, you’ll need someone local to deal with key exchanges and inspection.

4. Realize that it’s Possible to Invest Anywhere

The main benefit of investing from a distance is that your real estate investment skills are truly free to soar, with every potential neighborhood in the country at your fingertips. Without geographical restrictions, you’ll be able to flex your investing abilities in the open market. While the property manager and communication aspects can be obstacles, there are viable resolutions to both.

Investing Locally

One of the obvious benefits of local real estate investment is your firsthand knowledge of the area. You likely already know the good neighborhoods, the good schools, the upcoming developments in town, etc. Plus, you have the ability to do an on-site evaluation of your investment property and potentially address concerns before they become a big issue.

1. Forget your Memories

Still, familiarity of a certain locale can lead to bias, which is often an investor’s enemy. Positive personal memories can lead to a false sense of security from a financial standpoint. Emotional security does not always equate to a wise financial investment. Therefore, if you identify positively with a neighborhood or house from your childhood and wish to invest in it partly due to that, be wary – even if you’re telling yourself internally that nostalgia couldn’t possibly be the driving factor.

2. Know that Profitable Properties are Everywhere

Depending on where you live, there could be plenty of ripe investment opportunities in your locale. The most important thing here is to avoid personal bias during your investment process. Instead, stick to the principles that any prudent real estate investor does – such as a great neighborhood, fair property taxes, low crime, nearby schools and amenities, future prospects, building permits, etc.

Whether investing locally or from a distance, considering the aspects above will help guide you toward your own optimal investment strategy. I believe a safe portfolio will include both local and long-distance properties.

About the Guest Author – Anum Yoon

Anum Yoon is a personal finance writer who runs a money blog for millennials. She writes a lot of practical investing-focused personal finance articles for a variety of sites across the Web.

]]>https://www.landlordology.com/local-vs-long-distance-properties/feed/219839The 12 Most Popular Articles from 2015https://www.landlordology.com/most-popular-articles-from-2015/
https://www.landlordology.com/most-popular-articles-from-2015/#respondMon, 28 Dec 2015 15:50:21 +0000https://www.landlordology.com/?p=19875Landlordology and Cozy had another incredible year of education, service, and growth in 2015.

The following list showcases our most popular articles and tips from 2015, not including our state law summaries which continue to rank well, and are some of our most plagiarized content (example: ours vs. theirs). I suppose copyright infringement is the greatest form of flattery :)

Without further ado, here are the most popular articles published in 2015:

I require my tenants to give me 60 days notice of non-renewal of their lease. This guarantees that I have 60 days to try to find a new tenant. It’s a great trick that has reduced my vacancy to near zero, and saved me lots of time and money over the years.Read More »

Many landlords and property managers charge a fee every time a tenant submits a maintenance request or a repair is performed. This is a HORRIBLE idea and if you charge a maintenance request fee or repair deductible, you will regret it.Read More »

When a person unlawfully occupies a building or unused land, and refuses to leave, they are a called a squatter. If allowed to remain there for more than a few days, a squatter can have the same rights has a tenant, making it very time-consuming and expensive to remove them.Read More »

A lease is the foundation for the entire landlord-tenant relationship. Learn about my very favorite lease clauses, and how they can help you. These clauses will protect you from unexpected situations and unruly tenants.Read More »

Learn how to calculate and build a minimum emergency fund for your rental properties so that you are prepared for unexpected expenses, repairs, and vacancy. When you have an emergency fund, unexpected expenses aren’t so scary. Be prepared, learn how.Read More »

Offering “cash for keys” is an effective method of motivating bad or delinquent tenants to vacate a property, and will save you a lot of time, money and headache. The formal eviction process is long and expensive. You can motivate your tenants to move-out voluntarily offering to give them some cash.Read More »

There are many reasons why you might sell a rental property. Learn how to handle month-to-month agreements and fixed-term leases when selling a rental property, while ensuring that you don’t violate your tenants’ rights.Read More »

Raising the rent is easier than you think. Learn how to increase the rent without causing your tenants to leave or get angry with you. Included in this article is a free rent increase letter template.Read More »

]]>https://www.landlordology.com/most-popular-articles-from-2015/feed/019875Build an A-Team of Experts to Help You Succeedhttps://www.landlordology.com/build-a-team-of-experts/
https://www.landlordology.com/build-a-team-of-experts/#commentsWed, 16 Dec 2015 14:17:59 +0000https://www.landlordology.com/?p=19687I’ve always believed that my level of success in real estate is partly dependent on who I surround myself with.

As an independent landlord, “success” for me is having fully occupied properties, happy tenants, a happy wife, a positive monthly cash flow, and a cushy emergency/repair fund.

Building My A-Team

I have separate full-time job, and plan to keep it. I manage all my properties in my spare time. I will be able to retire early (maybe very early) on the equity I’m building, and substantial secondary income that my properties are generating.

To achieve this, I’ve had to assemble a reliable network of professionals; my own personal A-Team per say, of whom I can count on to help me grow and manage my rental portfolio.

But being a landlord is stressful, right? It doesn’t have to be. If you know who to call, and have the money saved up, property management becomes significantly less emotional. It becomes a business.

It’s All In the List

My sister-in-law, a Realtor, helped me secure my first rental property. At closing, she graciously gave me her elusive little black book of contractors, lenders, and other professionals. Honestly, it was a god-send. Without that initial list of reliable professionals, I would have been struggling to get my first property up and running.

Years later, I have my own list of independent contractors and real estate professionals who handle all my repairs, maintenance, and new acquisitions. They treat me like a king as long as I keep sending them business.

My A-Team is comprised of the following professionals, and I would suggest that you look for the same when building your list.

1. An Experienced Handyman

Don’t hire your buddy who renovated his kitchen all-by-his-lonesome. You want someone who has been a professional full-time contractor, in many trades, for most of their life. The more certifications, the better.

You’re looking to fill a position called “Hero”.

You’re looking to fill a position called “Hero” – and you might go through 2-3 handyman before you find a perfect fit. Preferably, he/she is skilled in everything from plumbing, electrical, and drywall, to even getting kittens out of treetops.

This person can ideally be trusted with the keys to all your properties and will treat your tenants with respect. In return, you will shower this person with tips and referrals.

2. Real Estate Agent / Lender

Unless you are licensed and rich, you will need an Agent to help you find a property, and a Lender to secure the financing. Many times, a purchase negotiation requires last minute changes to the sales contract and redundant lender approvals.

Agents often have a few lenders that they know and trust, and more importantly, that they work well with. Successful acquisitions require fluid collaboration between your Agent and Lender.

4. Real Estate Attorney

I think of Attorney relationships similarly to home insurance. They can be expensive, but absolutely crucial when an issue surfaces. I’ve built connections with a few local attorneys in case I need their services in the future.

I never sign a retainer contract unless I have an immediate issue that needs their attention over a long period of time.

You can insert that URL into your advertisements on Craigslist and Postlets, and Cozy will even broadcast the listing to Realtor.com.

After you find the perfect applicant, use Cozy to collect rent, track the leases, and manage the finances. Google Docs or Dropbox are also great tools to store and access your non-sensitive documents from any device.

6. Local Hardware Shop

Local hardware stores like Ace and TrueValue are usually more expensive than Lowes or Home Depot, but when you are in the middle of a DIY faucet repair, proximity matters. Local shops often have experienced staff who know how to fix anything, and can guide you through your repair project. You rarely find that level of expertise at the big box retailers.

Next Steps

Whether you are buying your first property, or have an empire of rentals, I believe you will accomplish more if you have a stellar network and delegate responsibilities. Your time is valuable, so let someone else paint the house. Save money where you can, but don’t sacrifice your personal life. As you continue to build your portfolio, try to remember that the many will almost always achieve more than the few.

]]>https://www.landlordology.com/build-a-team-of-experts/feed/219687Top 20 Gifts for Real Estate Investors Under $20https://www.landlordology.com/gifts-for-real-estate-investors/
https://www.landlordology.com/gifts-for-real-estate-investors/#commentsFri, 04 Dec 2015 17:14:50 +0000https://www.landlordology.com/?p=19576We are about to be inundated with buying gifts for friends and family. Don’t forget that it’s the perfect time of year to spend some money on yourself and your business.

Top 20 Gifts for Real Estate Investors

Lately I’ve had multiple construction projects going and needed a tape measure. Somehow my tape measure always ends up missing even though I have a toolbox mounted in the back of my truck. A keychain with a measuring tape is extremely useful.

This book was written by Lucas Hall who also manages Landlordology. Lucas is an expert in landlord issues and I think anyone who is serious about growing their rental portfolio needs this book. In my opinion, if a tenant isn’t paying nothing else matters. This book ensures that situation never happens.

I can personally guarantee you get a positive ROI with this investment. I have a lot of respect for Brandon Turner. He started with $0 and built a million dollar real estate portfolio in less than 7 years before he was 30 years old. This book is a great general overview of real estate investing.

This gift is completely self-serving – as I wrote the book. However, I’m an avid user and I have used Evernote and Cozy to take my real estate business completely online. Evernote and Cozy saves me time and money. The only problem with Evernote is that because it is so big, it’s not that intuitive to use at first. Therefore, to learn how to automate your real estate business – buy this book.

Ok, so you don’t typically give software – but this is a great software tool – that solves multiple pain points for landlords. If you have a digital following, it’s a great gift to your friends and followers: https://cozy.co/invite/

This is a tried and true book for every real estate investor. Literally, over 90% of the fellow landlord’s I meet say this book is the reason they have rental property. Excellent principles to learn from.

VistaPrint can be a little amateurish BUT as I like to say “something is better than nothing.” I love leaving a business card with people I want to stay in-touch with. I like having a motivational quote with my name and cell phone number. This motivates people to keep it.

This was my wife’s saving grace at Disney World. If you are on-the-go in rural areas you need this! This one has a ton of 5-star review – AND – works with multiple devices. I highly recommend it.

11. A Night Out

Cost: Free

This gift can work multiple ways. If you are like me with a big family, you want somebody to watch your kids for free! However, if you don’t have kids plan a night out at the park or go hiking. It’s a fun night.

This is meant to be a joke – most people find it hilarious! Just be careful because some people are sensitive. I personally have found it hilarious and give a plunger to all the new real estate investors I help out after their first rental property deal. Everybody I have given it to finds it hilarious and practical.

This is a fantastic tool for any Landlord or handyman. It is a pocket knife on steroids. It easily stores in a pocket or glove box, and will save your landlord countless trips to and from his home to pick up the “right tool”. In my opinion, Leatherman makes the best multi-tools. My other favorite is the Leatherman Wingman Multi-Tool.

If I had to pick 1 thing that has drastically reduced my time and improved my productivity I would have to name the Lockbox. Instead of meeting realtors, vendors, maintenance people I just give them a lockbox code. This saves me a SIGNIFICANT amount of time and money (gas money – mostly). I highly recommend you have at least 1 of these, even if it is slightly above the $20 limit.

This was my wife’s idea and I really like it. She is a photographer and a very visual person. Having a constant visual reminder of where you started will motivate you. You can also use a picture of a dream property you want to buy.

Summary

I hope you found this article useful and insightful. Do you have any ideas for any other gift for real estate investors? Let me know in the comments.

]]>https://www.landlordology.com/gifts-for-real-estate-investors/feed/119576The Real Estate Investor’s Guide to Year-end Planninghttps://www.landlordology.com/real-estate-investors-guide-to-year-end-planning/
https://www.landlordology.com/real-estate-investors-guide-to-year-end-planning/#respondFri, 20 Nov 2015 15:46:51 +0000https://www.landlordology.com/?p=19354There is nothing worse than scrambling in April to find receipts and figure out if your company owes taxes or not.

If you have an LLC or S-Corp, this is worse because you have to figure out how much profit your company made and the implications for your personal tax liability.

The time to prepare for 2015 taxes is NOT in February or March – it is now!

It’s worth mentioning that I am not a CPA or a lawyer. However, as an experienced financial analyst, I have reviewed thousands of tax-returns.

There is no coincidence that highly profitable customers also choose to use highly qualified CPAs. I whole-heartedly believe that you cannot grasp the true profit of your company if you do not have a good accountant that can steer you in the right direction.

Without further ado, let’s discuss the nine main items you need to have figured out before December 31.

Year-end Planning for Investors

1. Property Taxes

It’s very important that you only deduct property taxes as an expense – if you actually paid them to a taxing authority. Some landlords get behind on their property taxes but still want to deduct them, even though they did not make tax payments.

4. Personal Taxes

I’m not sure about you but I hate surprises. Well, I hate tax surprises to be more specific. Sure, a refund check is nice, but all that really means is you made a mistake and overpaid in the first place. Getting hit with a large tax bill is not fun and inevitably comes when you don’t have much cash around.

Below is an updated personal tax bracket for 2015. Check to see how much in taxes you have already paid-in.

5. Debt Implications

This is going to get confusing fast (remember that time I told you to hire a good real estate CPA?) so stick with me.

First, I’ll tackle an easy issue that comes with debt. Let’s say you own a property worth $100,000 free and clear. You need some cash so you take a line of credit out against the property for $50,000. You don’t have to pay taxes on the $50,000 even though now can have $50,000 in your bank account.

Of-course you have to pay interest on that money, but that interest could be tax-deductible!

Now let’s get to the confusing part.

Let’s say you made $10,000 worth of payments to your bank. Of that, $8,000 was for principal and $2,000 was for interest. Even though you had $10,000 worth of expenses the principal portion of the payment is not tax-deductible.

Professional Tip: While Your CPA is doing all of this work, have them make you a balance sheet for your company. This is good for you to know and will be very beneficial the next time you apply for a loan. Hopefully, your equity is increasing every year.

6. Insurance

Insurance is almost as exciting as taxes. However, even though it’s not exciting this time of year is the perfect time to review your policy. Does the policy properly reflect the value of the property including all of the updates?

Have you added a separate business that needs to be covered under a separate policy? While your reviewing your policy and the expenses, be sure to check out competing insurance companies to see what kind of value they can provide as well.

My buddy, Lucas carries an Umbrella Policy that covers his personal assets as well as his rental properties.

8. Mileage

If there is one thing you don’t want to be doing in March of 2015, it’s figuring out when and where you made business trips to between properties. Take some dedicated time and make an organized table for mileage. The current standard mileage rate from the IRS website is 57.5 cents per mile.

How many do you have now? Most of the time these people don’t have any rental property.

Map out a plan to get to your ultimate goal. Additionally, make this yearly goal realistic. Of-course if you had $1,000,000 in cash it wouldn’t be that hard to get 10 paid-off rentals. But if you only have $100 it might be an unrealistic goal for the year.

One thing that has helped me dramatically is focus.

I own multiple businesses and have a full-time day job and a growing family with an AMAZING wife :)

To be effective with my goals, I have to focus on one thing at a time. Additionally, I have found it very helpful to set a yearly goal, then break it down into quarterly goals. Sometimes, I even break this down to monthly goals. This helps me be realistic with my time and what monetary resources I need to allocate to certain projects.

Conclusion

I once had a multimillionaire boss who would commonly say: Nobody ever went broke paying taxes.

It’s a positive spin on a topic everyone loves to complain about. The bottom-line: Taxes are a reality and you need to plan accordingly.

]]>https://www.landlordology.com/real-estate-investors-guide-to-year-end-planning/feed/0193547 Habits of Highly Profitable Real Estate Investorshttps://www.landlordology.com/7-habits-of-highly-profitable-real-estate-investors/
https://www.landlordology.com/7-habits-of-highly-profitable-real-estate-investors/#commentsWed, 28 Oct 2015 16:45:22 +0000https://www.landlordology.com/?p=19085One time I had a boss who was obsessed with the book, The 7 Habits of Highly Effective People.

He’s not alone. The book has 3,176 reviews on Amazon – with 72% being a 5-star rating!

As part of a performance improvement program, my boss make me read the book. As such, I went through a personal coaching session where every week we went over a chapter and how it applied to my job. The meetings started at 6:00 a.m. and I actually looked forward to them because I got so much out of this book!

We are what we repeatedly do. Excellence, then, is not an act, but a habit. ~ Aristotle

Hopefully this guide will help you become more profitable in your real estate business.

Let’s get started!

Habit 1: Be Proactive

I want you to be completely realistic when you read this article. How much of your workday yesterday was “reactive” versus “proactive”?

How can you grow and get what you want accomplished if you are spending most of your day in “reactive” mode?

To change this, most would assume that I am going to recommend to set a schedule and stick to it. However, that’s the second part.

The first part is that you need to create a vision statement.

What ultimate goal are you trying to reach?

My vision is this:

To build enough recurring cash-flow and paid-off real estate to travel more, spend more time with friends and family, and to give more to organization that support orphans.

Habit 2: Begin With The End In Mind

To truly change you need to rescript how you think and act. Additionally, you need to change how you portray yourself to others. You have a vision now, but let’s also put together a mission statement.

Do not fear mistakes – fear only the absence of creative, constructive, and corrective responses to those mistakes.

Facilitate the success of subordinates.

Listen twice as much as you speak.

Concentrate all abilities and efforts on the task at hand, not worrying about the next job or promotion.

Habit 3: Put First Things First

Things which matter most must next be at the mercy of things which matter least. – Goethe

Habit three is the personal fruit, the practical fulfillment of Habit one and Habit two. The truly devout 7 Habits Cultist use a time management matrix.

Time Management Matrix

Urgent

Not Urgent

Important

Quadrant 1

Crisis

Pressing problems

Deadline driven projects

Quadrant 2

Relationship building

Finding new opportunities

Long-term planning

Preventive activities

Personal growth

Recreation

Not Important

Quadrant 3

Interruptions

Emails, calls, meetings

Popular activities

Proximate, pressing matters

Quadrant 4

Trivial, busy work

Time wasters

Some calls and emails

Pleasant activities

I have seen several of my superiors use it effectively.

Be incredibly self-aware of your most valuable asset: your time.

Importantly, remember that it is daily habits that will help you accomplish your ultimate vision.

You are going to have to really focus on this habit if you are a real estate investor on the side, while managing a full-time job and a family. This is not easy at all. Be incredibly self-aware of your most valuable asset: your time.

Habit 4: Think Win-Win

Admittedly, I am extremely bad at this habit.

I’m an analytical type and extremely brief and to the point. However, in real estate you have to communicate with various types of people. Specifically, you have to communicate with several different types of communicators than yourselves:

Realtors

Sellers

Buyers

Loan Officers

Title Companies

Tenants

All of these people represent not only different professions, but different values and different communication styles. Even though I am short and to the point, most people prefer and long explanation of why you want something done a certain way.

Think about an upcoming interaction. How are you going to keep a high courage balanced with a high consideration?

Habit 5: Seek First To Understand, Then To Be Understood

This is yet another habit that I am not naturally good at. I am a fast action-taker. As such, I sometime react prematurely to events. It would be a lot better if I had learned to completely understand the other persons point of view first.

It is better to keep your mouth closed and let people think you area fool than to open it and remove all doubt.

When attending meetings, I’m amazed at the miscommunication simply how people use words differently.

A lot of people react prematurely and sometimes cause an unnecessary fight.

Always Seek First To Understand.

Instead of reacting to something that immediately tips you off, say:

“Let me make sure I understand, what I’m hearing you say is [ repeat back your version of what you heard ]”

This does 2 things:

It obviously makes sure you understand their point of view

It gives you a couple of seconds to calm down – if you were about to blow your lid

If you are presenting something, base this off empathy. Make the presentation about not only your audience, but your point of view.

Habit 6: Synergize

It’s virtually impossible to do anything in real estate by yourself.

In transactions I’m involved in as a real estate investor it is typical that the borrower and seller have opposing views. However, it doesn’t have to be like this.

For example,I’m currently trying to purchase some land for both timber and recreational use. This land has been for sale for 3 years and the seller hasn’t had a single offer. It’s already priced well below market. My first offer was to lease the land for a year then purchase it. My goal was to see if I wanted use of the land.

The seller simply responded to my offer with a “no” – he has no interest in leasing the land.

Instead of getting my feelings hurt and forgetting about the deal, I dig-in and question what is the best outcome. I ultimately find out that after 3 years, he just wants to be “done with the property.”

I emphatically ask:

How valuable would it be then if I paid in cash and could close in 7 days?

This forced him to not just view me as an adversary but a helpful business partner.

How are you trying to synergize with people who are currently viewing you as an adversary?

Habit 7: Sharpen the Saw

This chapter starts with a story about someone who is too busy sawing a tree down, to stop and sharpen it.

Habit seven is really all about yourself. After all, how can you take care of others if you yourself are not ok?

A group of young entrepreneurs gathered on Necker Island and asked Richard Branson,”how do you become more productive?”

How do you become more productive?

He leaned back and thought for a second. Then he said, “Work Out.”

It’s not what you would immediately think of when becoming more productive. However, have you ever regretted taking 30 minutes off of your day to workout? I know I haven’t. I come back a lot more energized and ready to work some more.

Don’t forget to take care of yourself everyday and sharpen the saw!

Summary

I highly encourage all of you to read it with someone older than you, to help mentor you through the principles.

]]>https://www.landlordology.com/7-habits-of-highly-profitable-real-estate-investors/feed/9190857 Hilarious Autocompletes You Might Experience as a Landlordhttps://www.landlordology.com/7-search-autocompletes-as-a-landlord/
https://www.landlordology.com/7-search-autocompletes-as-a-landlord/#respondWed, 02 Sep 2015 18:02:35 +0000https://www.landlordology.com/?p=18629What would we do without Google or Bing?

The go-to sites are a part myself in the same way that my arms are parts of my body. I trust them, and go to them for most every question.

Here are some of the more hilarious autocompletes you might experience as a landlord.

7 Hilarious Autocompletes

1. Benefits of real estate // Benefits of red yeast rice

2. I accidentally lost the rent check // I accidentally ate mold

3. Help I’m A landlord // Help I’m a fish

4. How to raise the rent // How to raise your IQ by eating gifted children

5. I need a portable air conditioner // I need a poo

6. What do you do when you have a tenant that doesn’t pay // What do you do with a drunken sailor

7. Where is cheap real estate investment property? // Where is chuck norris?

]]>https://www.landlordology.com/7-search-autocompletes-as-a-landlord/feed/018629How to Screen for Professional Tenants, a True Story of a DC Property Managerhttps://www.landlordology.com/screen-professional-tenants-a-true-story/
https://www.landlordology.com/screen-professional-tenants-a-true-story/#commentsMon, 20 Jul 2015 17:19:53 +0000https://www.landlordology.com/?p=18354“No more bad tenants!” was the response of a Washington DC property manager when asked what single change would benefit your business the most.

Recently, I met with a successful investor, landlord, real estate agent, and licensed property manager who oversees properties across DC and Virginia. She’s also a Cozy customer. Her story is one of difficult lessons learned, and so amazingly horrible that I just had to share.

For the last 10 years, she’s built a reputable business on only a few dozen rentals, some hers, some belonging to others. She’s experienced, has a Master’s degree in Real Estate, and prides herself on providing a quality service.

However, like every entrepreneur, the road to success is often a bumpy one. A few years ago, she was under pressure to get a trendy Dupont Circle condo rented quickly. The wealthy owner was leaving the country, and wanted his affairs wrapped up – which included a signed lease and deposit funds.

The property manager, “Janet” for anonymity (by her request), found an eager and polite government contractor who was looking to move into the city. “The place is perfect” he said.

Janet wryly commented “… perfect for his scheme…[scoff]”. Janet did what she called an “express screening”, which she acknowledges as her first mistake. Instead of running a credit report through an unbiased third-party, she accepted the report that the gentleman had printed out from a free credit report website. She then called his employer, and spoke with someone in HR who verified his employment and income. “Everything checked out on the surface, and I just assumed he had a security clearance” said Janet.

“Everything checked out on the surface…”

She felt comfortable enough to sign a lease, and collected the first month’s rent and a security deposit. At the lease signing, she handed over the keys. Admittedly, that was her second mistake.

He moved in that evening despite his lease not starting for a few days. Shortly thereafter, she was notified that both checks had bounced. Without hesitation, she confronted the tenant who apologetically wrote two more checks, this time, from a different account at a different bank.

They bounced too. In fact, after meeting with a bank manager, Janet discovered that the tenant had four open checking accounts at that bank, each with a balance less than $0.10.

It was at this point that Janet realized she had been fooled by a professional tenant. She even began to question if the employer was legit, or simply just a friend who was in collaboration with the tenant.

Passionately, Janet explained, “It was clearly a well-rehearsed plan that the tenant had executed many times before. He was a wolf and I was his prey, and I let him into my house.”

Janet went on to say, “I felt ashamed that I had let this liar through. My stomach was in knots knowing that I had to call the owner. Worse, I was certain that if I had run a proper credit and background check, this could have been avoided.”

Janet sent her 6”, 250 lb. male employee to the property to confront the tenant again. This time, the delinquent tenant told the employee to “leave now or I’m going to hurt your body.”

The DC Metro Police were notified, but quickly dismissed the case citing this was a landlord-tenant issue and needed to be handled in eviction court – despite the tenant never paying a cent.

Janet spent the following two months navigating the complex, tenant-friendly DC court system, and was well-prepared for her court date. The owner flew back from England to attend the hearing, and was expecting to confront the tenant. Minutes before the appointment, Janet received a text message stating “I’ve moved out, you’ll never find me.” The tenant did not appear in court, and Janet won the eviction judgement.

“I’ve moved out, you’ll never find me”

Immediately after the hearing, Janet and the owner visited the condo only to find the door open, and the floors covered in water. The tenant had stuffed pillows into the washing machine, spun the knob, and let it run. The exotic hardwood floors were warped beyond repair, and months of rent had been lost with little chance of collecting on the judgement.

The owner looked at Janet in disappointment, and said “how could you let this happen?”. Janet lost the client, and was at risk of a lawsuit against her company for negligence. Luckily, the owner wanted to move forward without further legal action, but Janet had lost a client and her reputation through this event.
“I learned that it only takes one bad tenant to ruin a business, and the best way to deal with a bad tenant is to make sure they never move in,” Janet said.

Janet now uses Cozy to run detailed credit and background checks on all her applicants. Being a small brokerage, she no longer needs to collect an application fee, but rather just instructs the applicants to pay for the screening reports directly through Cozy. Janet adds “Cozy has the most detailed credit report and background check I’ve ever seen, and I never have to worry about a tenant forging a report again.”

Since using Cozy, Janet has noticed that, “high-quality renters get excited about my online, transparent screening process, while the bad tenants never seem follow through with application. I have not had to evict a single tenant since using Cozy,” says Janet.

Can I Interview You?

If you use Cozy, and it has improved your business, let me know. I’d love to interview you and feature your story on Landlordology. If it’s a bad story, you can remain anonymous (like Janet). If it’s a good story, I’ll link back to your website.

Introducing Cozy Background Checks

With no on-site visits required, and no need for landlords to collect applicants’ Social Security numbers, Cozy Background Checks make it easy for landlords to find reliable tenants and protect their investment.

Cozy’s new background checks don’t require landlords to collect Social Security numbers or any other sensitive information, and they don’t require any on-site visits. Cozy Background Checks are fully FCRA compliant, and provided in partnership with Checkr.

Criminal, Eviction, and More

Cozy Background Checks include full searches of national and county criminal records, past evictions, sex offender lists, and terrorist watch lists.

Paired with Cozy’s recently redesigned tenant credit reports, landlords will also get detailed information about outstanding debts, payment history, account history, and more. Together, Cozy’s tenant screening tools provide landlords with a complete picture of their applicants’ histories, so they can make a more informed decision.

Free for Landlords

Incomplete tenant screening can be costly: the average cost to evict a problem tenant, with assistance from an attorney, can exceed $10,000, which could be avoided with a complete background and credit check.

Best of all, these screening tools are completely free for landlords and property managers.

Cozy tenant screening reports are integrated with Cozy’s free rental application, where landlords can get all of the information about their applicants in one place. For landlords who prefer to use their own rental application, all they need are their applicants’ names and email addresses to run a background check and credit report.

Background Check + Credit Report

Get the full picture by requesting a
Background Check and a Credit Report together.

About Cozy

Cozy (www.cozy.co) makes renting easy for landlords, property managers, and tenants. Simple rent payments, rental applications and tenant screening make Cozy the best way for landlords and renters to deal with every part of the rental lifecycle.

Founded in 2013 and headquartered in Portland, Oregon, Cozy is used by tens of thousands of landlords who run their rental businesses in over 3,500 cities nationwide.

]]>https://www.landlordology.com/cozy-launches-free-online-tenant-background-checks/feed/618218Minimum Wage Won’t Pay the Rent in Most U.S. Citieshttps://www.landlordology.com/minimum-wage/
https://www.landlordology.com/minimum-wage/#respondWed, 17 Jun 2015 12:05:12 +0000http://www.landlordology.com/?p=17996Here at Cozy, the company behind Landlordology, we provide industry-leading online tools and resources to make renting easy for everyone.

We have a lot of customers and a lot of data about the rental market:

Cozy is used by over 22,000 landlords and 33,000 tenants.

Cozy is being used in over 3,400 US cities.

We process over 120 Million dollars in rent every year (and growing!)

As an experiment, we pulled together a sampling of actual rent prices in major US cities during the month of May. To our surprise, we discovered something interesting:

It’s nearly impossible to afford a one bedroom apartment anywhere in the US on minimum wage.

Infographic Report

A minimum wage renter in San Francisco, would need three roommates to afford a one bedroom apartment.

Of all cities, renters in NYC spend 53% of their monthly income on housing – the highest in the nation.

A renter gets the most space for the money in Midwest cities, like St. Louis, MO.

]]>https://www.landlordology.com/minimum-wage/feed/017996Pros and Cons of Renting Your Property in a College Townhttps://www.landlordology.com/renting-your-property-in-a-college-town/
https://www.landlordology.com/renting-your-property-in-a-college-town/#commentsFri, 22 May 2015 14:30:03 +0000http://www.landlordology.com/?p=17739Renting to students can be very profitable. It can also be very stressful.

Whether nestled in the heart of a booming metropolis or surrounded by miles of cornfields, all college campuses share the same population: students.

Excluding the students who choose the cramped confines of dorm life, most students seek some form of off-campus housing during the duration of their academic stay. As evidenced by the current top 10 college towns for buying real estate property, there are considerable economic benefits to renting out your property in a college town.

With these types of benefits it seems like a no-brainer to call your real estate agent and start buying properties immediately. However, there are several important factors to consider as a landlord before you do this. Do you like the potential for ludicrous home repair bills? What about an average turnaround time of one year for a resident? Basically, when all is said and done, do students make good tenants?

Pros and Cons

This is the good, the bad and the ugly of being a landlord in a college town:

College students can make surprisingly lucrative tenants.

The Good

One of the main benefits to owning a rental property in an area densely populated with college students is the consistency of renters. Barring an extreme natural disaster or other unforeseen circumstance, these educational institutions aren’t going anywhere – which means the flood of new potential renters flocking to the area each year won’t change either. This allows you to be somewhat choosy about the tenants you invite into your property, as there will always be a demand for the area.

In many cases, students also come with a very valuable asset: their parents. This ensures that you will have stable rent and can include the parents on the leasing agreement credit report. In addition, there will be less of a struggle regarding any repair costs at the end of the lease duration. Steady income from a second party is always a considerable plus when it comes to renters.

Renting to students also means that you can theoretically make more of a profit. Instead of hunting five pre-med students who happen to be best friends, you can rent room by room; renting individual rooms has the tendency to bring in more money in the long run. If this idea speaks to you, entertain the idea of putting some money into the property and breaking off rooms into individual apartments.

The Bad

A downside to renting out your property in a college town actually goes hand in hand with one of the pros. While you will be assured a steady flow of new students champing at the bit to lease your property, this also means that you won’t be encountering many long-term renters. Prepare for a lot of turnover and flux within your rental property; for some this isn’t a problem, but for other it’s an unwanted responsibility.

College students are also typically inexperienced renters. Your home could very well be the first time they live away from home or off campus, which could mean that you have to be a very “hands on” landlord. Constantly receiving phone calls on how to operate the garbage disposal or having to visit the property to address very simple concerns isn’t ideal, and this could prove especially difficult for an absentee landlord.

The Ugly

Since you are renting out to very young tenants you can encounter your fair share of property damage, costly repairs, noise complaints, police intervention, etc. College students can sometimes be a rowdy and inconsiderate bunch. If you worry about excessive wear and tear to your rental property then renting out in a college town may not be for you. Setting a high security deposit can help offset some of these costs, but you should also be prepared to dip into your own pocket at times to pay for some repairs.

With students may also come some very inexperienced pet owners. Simply establishing a clause in the lease saying ‘no pets’ may not do the trick; the idea of a cute, cuddly cat or fluffy puppy is probably the best idea your potential renter thinks they’ve ever had. In reality pets can do enormous damage to your property and if you aren’t making routine stops to check in then you may not be aware until it’s too late.

As many of these are hypothetical situations, do take them with a grain of salt. You could have a renter of any age or occupation hitting all of the criteria above. If you organize a well thought out leasing agreement and prepare yourself for some less-than-desirable traits of college renters, then the rewards can be extremely profitable.

Best College Towns For Real Estate

About the Guest Author – Ella Jameson

After graduating from university with a degree in English Literature, Ella worked as an editor and copywriter for several years before becoming a journalist. You can find her on Twitter, @JamesonElla.

]]>https://www.landlordology.com/renting-your-property-in-a-college-town/feed/417739Building a Rental Business Plan for Financial Freedomhttps://www.landlordology.com/landlord-business-plan/
https://www.landlordology.com/landlord-business-plan/#commentsWed, 15 Apr 2015 14:47:00 +0000http://www.landlordology.com/?p=17072This article will teach you how to set goals, develop systems and create a business plan that will help you achieve financial freedom with rental properties.

Like me, you probably have some kind of a goal related to real estate. Perhaps it’s something like: “Buy my first property” or “Own at least 10 rental units by the end of the year.” Don’t worry… I don’t think you are a loser as the quote suggests!

I also have big real estate goals, but I realize that simply having a goal is useless.

I think people should stop asking about goals, and start asking about systems. What systems are you putting in place to accomplish your goals? Writing your goals down on paper is easy. However, developing systems to accomplish your goals is hard.

Specifically, what have you done today to accomplish your yearly goals?

What is a System?

What exactly is a system? To me, systems are simply a routine or habit.

Something that you could, in theory, document and eventually have somebody else do it so you can scale your business.

The most important part about systems is consistency.

“For changes to be of any true value, they’ve got to be lasting and consistent.” – Anthony Robbins

Building Your Plan

The trick is to not only build your business plan, but to accomplish everything in it.

Now that we have established that daily actions and systems are absolutely critical to achieving long-term goals, let’s go through some exercises so you can document everything from your long-term vision to your day-to-day tasks.

1. Vision

Ask yourself, in a perfect world, where do you want to be in five years? What does your perfect day look like?

My vision is:

To pay off house,

Accumulate five paid-off rental properties and,

Make over $100K/year as a real estate finance authority speaker and trainer.

Now we are going to over the steps from Goals and Systems to Daily Actions

3. Objectives

Create measurable short and long-term goals that will help you calculate and measure your success along the way. For me, it’s

Reach $10K in revenue by the end of the first year

End the year with a 3 lending partners

4. Strategies

Identify how you will reach those objectives.

I will achieve my objectives by:

Networking with wholesalers that focus on multifamily projects.

Cultivate relationships with REO agents.

Get referrals from other real estate investors on who they use for lending

5. High-level Plans

High-level plans help to create a roadmap for implementing the strategies and achieving your objectives.

Secure two paid-speaking gigs in 2015

Rebrand website

Buy this more properties this year

Update my stakeholder book

Write two top-selling Kindle books

6. Daily Plans

Ideally you will break down your high-level plans into daily plans so every day, you will be working towards your long-term goals. It’s easy to push aside your plans thinking “I’ll do it later”, however, that’s a very bad habit to get into.

If you can work at least 15 minutes a day on a project that will accelerate your plans more than you think.

15 minutes a day
can make all the difference in the world

Commit tomorrow to start working on your real estate business the first thing every morning. Let me know in a week how much of a difference this has made.

7. Finances

This is my favorite part of a business plan – dissecting where the numbers come from.

Again, let’s start with a big goal – note – make it a lot bigger than you think.

Most people overestimate what they think they can accomplish in a day and underestimate what they think they can accomplish in a year.

Another reason to think big is you will probably need more money to be achieve financial freedom (or whatever your goal is) than you think.

Let me give you a real life example:

My wife and I are very blessed to have a paid-off rental property. It was our first house and we put 20% down on a 15-year mortgage. The first 2 years we owned it we paid a significant amount of debt down. We have owned it over 12 years now, but it was paid-off a couple of years ago.

We get $800 in rent and have great long-term tenants who probably keep care of it better than we did.

However, in the past six-months I’ve made less than $2,000 in profit on this house!

Why? Let’s take a look:

October – I waived rent because they pressure-washed the deck, did a lot of landscaping and fixed some other things around the house

Therefore, if you think you are going to be able to retire if you get 10-paid off rental properties (which I hear quite a bit of) I think you better recalculate some things.

Summary

I know this is a non-traditional way of looking at business plans. However, from someone who looks at other people’s business plans for a living and decides if they get a loan or not, I believe this is not only a practical approach to developing your business plan, but also the most profitable.

Even if you already have a business, I highly encourage you to go through the steps above. You might discover (like I did) that by adding systems and more people to your processes, your business will become more profitable.

My Results

Well, because I added systems and people to deal with maintenance issues and other ongoing tenant issues, it freed up my time to look at more properties. After I implemented this plan, I doubled the number of properties my real estate company owned.

Let me know in the comments how you have used systems to grow your real estate business.

]]>https://www.landlordology.com/landlord-business-plan/feed/1317072Why is America Becoming a Nation of Renters?https://www.landlordology.com/nation-of-renters/
https://www.landlordology.com/nation-of-renters/#commentsMon, 13 Apr 2015 12:33:14 +0000http://www.landlordology.com/?p=17023Our friends at the PM Guardian did some excellent research on why America is becoming a nation of renters.

The most notable facts are:

5 million renters enter the market from 2005 to 2012

43 million renters in the US (2013)

The top 5 cities with the most renters are:

New York City, NY (68%)

Miami, FL (68%)

Boston, MA (67%)

Providence, RI (66%)

San Francisco, CA (64%)

As a landlord, I couldn’t be happier, because my customer base is increasing. But as a citizen, living in an economy primarily founded on home ownership, it concerns me that fewer people are using property to build equity and save for retirement.

Are we becoming a nation of renters by choice, or are the few property investors buying more properties, thereby helping the rich get richer?

The infographic below shows a detailed timeline of the catalytic events that have triggered this shift from homeownership to renting.

I’d love to hear your thoughts and theories on this – please let me know in the comments section.

]]>https://www.landlordology.com/nation-of-renters/feed/817023Find Improving Housing Markets with MiMi, from Freddie Machttps://www.landlordology.com/find-improving-housing-markets-with-mimi-freddie-mac/
https://www.landlordology.com/find-improving-housing-markets-with-mimi-freddie-mac/#respondThu, 15 Jan 2015 13:30:58 +0000http://www.landlordology.com/?p=16047If you own properties or want to expand your landlord business, you probably have the following questions:

Is the housing market is back to normal after the recession?

Is it still recovering?

Are we entering another housing bubble?

The answer depends on where you live.

As most real estate investors know, housing activity differs greatly depending on the market. Savvy investors like to keep up with the trends and understand which markets are the most stable.

Introducing MiMi

Ask MiMi, Freddie Mac’s Multi-Indicator Market Index.

MiMi tells you how stable the housing market is in all 50 states, the District of Columbia, and in the top 50 metro areas in the United States. Area-specific information you’ll find on MiMi includes:

How many people are buying

How affordable each area is

Whether people tend to be current with their mortgage payments

Whether employment is strong or weak

The information updates monthly and is a great tool for any real estate investor to use.

How to Use MiMi

MiMi calculates whether a market is stable, or as Freddie Mac describes it in true Goldilocks fashion — “not too hot, not too cold, but just right.” In other words, if MiMi indicates an area is too hot, the market has risen to an unsustainable level. If the area is too cold, it is too weak to generate demand.

And besides telling you the temperature of an area, MiMi tells you which direction a location’s heading. So an area that is too cold but is going toward just right might be one of interest to you, but an area that is too cold and is getting colder might not.

MiMi uses a numerical composite system for each area based on four criteria:

Purchase applications:
This tells you how many people are buying. It also tells you whether the market is elevated, as determined by more activity, or weak, as determined by depressed home sales. And it lets you know whether purchase applications are increasing or decreasing.

Current on mortgage:
This tells you whether people are current on their mortgage. It also lets you know whether delinquencies exceed historical averages. The higher the number here the lower the delinquencies, and the lower the number the higher the delinquencies.

Employment:
This lets you know what percentage of the market is employed. The higher the number the better the employment rate. Low numbers show a weak market with unemployment exceeding historical averages.

MiMi isn’t the only tool to use to determine whether you want to buy in a particular area, but it’s a good place to start. It provides some good insight into housing activity throughout the nation.

A basic strategy to get you into the landlord business or to increase your existing landlord business involves picking a good location that provides a good value for what you spend.

It’s typically easy to find and keep tenants in up-and-coming areas. It’s even better if you choose an area near your residence because you can show the property and visit it periodically. You can still invest in areas farther away, but you would then want to consider hiring a property manager or doing it yourself with a tool like Cozy.

]]>https://www.landlordology.com/find-improving-housing-markets-with-mimi-freddie-mac/feed/016047The 12 Most Popular Articles from 2014https://www.landlordology.com/12-most-popular-2014/
https://www.landlordology.com/12-most-popular-2014/#commentsMon, 29 Dec 2014 10:05:32 +0000http://www.landlordology.com/?p=15724Landlordology and Cozy had an incredible year of service, innovation, and growth in 2014.

I require that any adult living in my rental property, to be listed on & sign the lease. It’s a simple rule that I always follow, and it has never steered me wrong. Learn how to handle long-term “guests” and rogue tenants who moved-in under the radar. Read More »

In many US cities, a tenant applies to 10+ rentals before securing his/her next home. Many landlords still unknowingly perform “Hard” credit checks, which damages the applicants credit. Pulling a “Soft” report, you’ll get the same information, without hurting the applicant. Read More »

A detailed list of all of the phases you’ll encounter as a landlord, and the resources to deal with them. If you’re just starting out as a landlord, and want to know what is involved, the Landlord Lifecycle is a great place to start! Read More »

Social Security Numbers (SSN) are traditionally used by landlords and property managers to run credit reports and screen tenants. Although, collecting them often causes more issues than they are worth. With the presence of new technology, we ask the question, are SSNs really needed? Read More »

It’s not only wise to keep separate bank accounts for each property’s security deposits, but in most states, it’s required by law. Learn how to structure and organize your bank accounts to effectively manage security deposits and abide by state laws. Read More »

The Workshop

Earlier this week, we held the very first Landlordology Workshop & Fireside Chat, in downtown Portland, Oregon.

Attendees came from all over the Portland area, with a few driving from Seattle and even flying from San Francisco. However, the “longest distance” award goes to a Cozy landlord who flew all the way from Georgia to attend!

A Strong Community

I’ve always believed that we’ll all succeed as landlords if we stick together. This workshop was no exception.

Not only did the attendees show up to learn, but they also actively contributed through thoughtful and considerate Q&A with each other.

There was a genuine desire to help each other by sharing life experiences, war stories and even phone numbers.

Seminar vs. Workshop

During initial planning stages, we had intended this event to be mostly seminar-led, with some minor Q&A at the end.

At the last-minute, we decided to open the floor to questions throughout the entire presentation in an attempt to truly embrace the “workshop”. This allowed for real-time discussion of actual landlord-tenant situations, and how best to address them.

It truly was a community event.

Final Thoughts

In the end, we were reassured of the incredible value in landlord workshops such as this.

We fielded a ton of challenging questions, had countless conversations, heard lots of funny tenant stories, and most importantly got we got to connect with long-time Landlordology readers and Cozy customers in the real world.

We made a lot of new friends, and look forward to the years ahead.

Thanks to Multifamily NW for co-sponsoring. If you’re part of a Rental Housing Association or Apartment Association and would like to partner with us on an event like this in your city, let us know.

Presentation

Here’s the slide deck from the evening. Please know that it is only an outline to which some excellent discussions were based on.

In the near future, we will also host online webinars to present this, and other slide decks from these events, as well as a variety of other great topics such as tenant screening, and rental marketing.

Join our newsletter to get notified about future in-person events and webinars.

As you can tell, it looks very different, but what is not so obvious is that the new site has been completely redesigned from the ground up, based on feedback from you!

It works on any device so whether you’re on a laptop, tablet or smartphone, Landlordology automatically responds to provide you with the best possible reading experience.

This redesign is the first phase in a series of incredible changes that are coming down the pipeline since Landlordology joined Cozy. Together, we’re making renting easy for everyone.

Rapid Growth and Expanded Offerings

Landlordology is quickly becoming a leading information and educational resource for landlords and tenants (over half of commenters are tenants!) and has averaged 35 percent month-over-month organic growth since launching in January 2013.

It’s so exciting to be part of this growing community, and for us it’s continued proof that rentals are massively important in our economy and culture.

More of What You Love

To help facilitate this growth, and provide far more value to you, we’re introducing a number of new features on Landlordology.

Our hope is that through quality and easily accessible education, we can all be better landlords and renters.

1. The Landlord Guides

We have launched with the first three guides, and you can expect the series to grow quickly. The Landlord Guides take you from knowing nothing about being a landlord to becoming a Super Pro, Cozy-certified landlord in a short timeframe.

2. The Landlord Lifecycle

The Landlord Lifecycle is an awesome new resource that walks you through all the phases you’ll encounter as a landlord, and the resources to deal with them.

So whether you’re buying your first rental property, moving in new tenants, or trying to find the best contractor, we have you covered.

3. The Landlord Toolbox

Services Directory is our master list of the best tools on Earth for independent landlords. From collecting rent and marketing, to insurance and repairs – it’s all there, vetted and curated.

It’s important to point out that the resources we showcase do not pay us in any way. They’re just the companies and services that we think do an amazing job.

5. Landlord-Tenant State Laws & Regulations

Landlord-Tenant State Laws & Regulations are where some of the most heated conversations happen, and we’re quickly moving toward a concise set of landlord-tenant state laws that anyone can use to solve problems.

The conversations people are having here, and the crazy rental situations people talk about continually blow my mind – and serve as a clear reminder that Cozy and Landlordology are focusing on solving the right problems.